Due to the escalating conflict between the US, Israel, and Iran, the Strait of Hormuz has been closed and air travel has been suspended, some civilian vessels have been attacked, and banks have experienced disruptions to digital services. This poses a risk to businesses, including breaches of contractual obligations and supply chain disruptions. However, military action does not automatically trigger force majeure, and liability relief depends largely on the contract. Costs are also increasing due to insurance companies canceling policies and increasing premiums.
Anna Zabrotskaya, Managing Partner at Nordic Star in Russia, assesses the risks of investment disputes amid the escalating conflict between the US, Israel, and Iran.
Read more in Pravo.ru.